The following information is provided by Energy Advisors Group (EAG). All inquiries on the following listings should be directed to EAG. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

A private seller retained Energy Advisors Group (EAG) to market certain Williston Basin operated assets located in Bottineau and Renville counties, North Dakota.

The assets were previously marketed by EAG in 2019/2020 and sold to a private company that is now rationalizing its diverse geographic properties. These assets are comprised of long-life, high-value conventional waterfloods in the Madison Pool with Bluell & Sherwood potential. They offer solid consistency and upside in a $70 to $120 oil market, with cash flow currently exceeding $600,000/month.

Highlights:

  • Bottineau and Renville counties, North Dakota operations for sale
  • 54-PDP Wells, 16-Injectors and 5-SI. ~8,300-Gross Acres
  • Madison Pool. Bluell and Sherwood Potential
  • 3D Proprietary Seismic Coverage. Identified Upside
  • Long Life Conventional Oil. Solid Production: >16 MMbbl Produced to Date.
  • Shallow Decline with Consistent Oil Cut
  • 100% Operated Working Interest; 74.4% Net Revenue Interest
  • Gross Production: ~320 bbl/d. Net Volumes: ~240 bbl/d
  • Last Three-month 2022 Net Operating Cash Flow: ~$600,000/month
  • PDP Reserves: ~1.7 million bbl. PV-10: ~$28 million. PDNP Reserves: ~430,000 bbl. PV10: $6.7 million
Energy Advisors Group Marketed Map - North Dakota Waterloods Bottineau and Renville Counties
Private Seller Location Map (Source: Energy Advisors Group)

Quick Production and Cash Flow Summary:

The 54 active producers generated ~250 bbl/d net sales in May bringing the recent monthly revenues to over $1 million and a net cash flow over $630,000.

Energy Advisors Group Marketed Production Curve Graph - North Dakota Waterloods Bottineau and Renville Counties
Production Curve (Source: Energy Advisors Group)

The LOS Net Summaries showed the last six monthly net cash flow including all the costs of the assets.

Energy Advisors Group Marketed Net Cash Flow Summary Graphic - North Dakota Waterloods Bottineau and Renville Counties
Net Cash Flow Summary (Source: Energy Advisors Group)

Divestiture Process:

Asset Sale. Bids are due Aug. 2. Upon execution of a confidentiality agreement, EAG will provide access to confidential evaluation material in the virtual data room. For more information, email EAG directors Steve Henrich at shenrich@energyadvisors.com, or Alan Yoelin at ayoelin@energyadvisors.com.

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